That is, I'm afraid, completely wrong.  The technology is open source and so can be used by anyone to set-up their own blockchain.

Bitcoin's value is mostly from it's brand, the fact that most people have heard of it.

(There is a little bit of value from it being a means of exchange, but that value has almost been destroyed by its recent volatility - the number one requirement for a means of exchange is that it be reasonably stable.  That underlying value will return once the speculators have been burnt and left.)